ECIC IR 2023

ANNUAL Financial Statements for the year ended 31 March 2023

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1

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Independent Auditors’ Report

Report on the audit of the annual performance report* Introduction and scope 10. In accordance with the Public Audit Act 25 of 2004 (PAA) and the general notice issued in terms thereof, we must audit and report on the usefulness and reliability of the reported performance against predetermined objectives for selected objectives presented in the annual performance report. The accounting authority is responsible for the preparation of the annual performance report. 11. We selected the following objective presented in the annual performance report for the year ended 31 March 2023 for auditing. We selected the objective that measures the public entity’s performance on its primary mandated functions and that is of significant national, community or public interest. 12. We evaluated the reported performance information for the selected objectives against the criteria developed from the performance management and reporting framework, as defined in the general notice. When an annual performance report is prepared using these criteria, it provides useful and reliable information and insights to users on the public entity’s planning and delivery on its mandate and objectives. 13. We performed procedures to test whether: • the indicators used for planning and reporting on performance can be linked directly to the public entity’s mandate and the achievement of its planned objectives. • the indicators are well defined and verifiable to ensure that they are easy to understand and apply consistently and that we can confirm the methods and processes to be used for measuring achievements. • the targets can be linked directly to the achievement of the indicators and are specific, time bound and measurable to ensure that it is easy to understand what should be delivered and by when, the required level of performance as well as how performance will be evaluated. • the indicators and targets reported on in the annual performance report are the same as what was committed to in the approved initial or revised planning documents. Objective Pages in the annual performance report Enhance financial sustainability 11

• the reported performance information is presented in the annual performance report in the prescribed manner. • there are adequate supporting evidence for the achievements reported and for the reasons provided for any over- or underachievement of targets. 14. We performed the procedures for the purpose of reporting material findings only; and not to express an assurance opinion. 15. We did not identify any material findings on the usefulness and reliability of the reported performance information for this objective.

Other matters 16. We draw attention to the matter below:

Achievement of planned targets 17. Refer to the annual performance report on page 11 for information on the achievement of planned targets for the year.

Report on the audit of compliance with legislation Introduction and scope

18. In accordance with the PAA and the general notice issued in terms thereof, we must audit and report on compliance with applicable legislation relating to financial matters, financial management and other related matters. The accounting authority is responsible for the public entity’s compliance with legislation. 19. We performed procedures to test compliance with selected requirements in key legislation in accordance with the AGSA findings engagement methodology. This engagement is not an assurance engagement. Accordingly, we do not express an assurance opinion or conclusion. 20. Through an established AGSA process, we selected requirements in key legislation for compliance testing that are relevant to the financial and performance management of the public entity, clear to allow consistent measurement and evaluation, while also sufficiently detailed and readily available to report in an understandable manner. The selected legislative requirements are included in the annexure to this auditor’s report. 21. We did not identify any material non-compliance with the selected legislative requirements.

* As reported in the Directors' Report.

YOUR EXPORT RISK PARTNER

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